Worthington Enterprises, Inc. (NYSE:WOR) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. reduced its holdings in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 37.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,156 shares of the industrial products company's stock after selling 16,185 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.05% of Worthington Enterprises worth $1,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. KBC Group NV grew its stake in Worthington Enterprises by 45.1% during the 3rd quarter. KBC Group NV now owns 1,136 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 353 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Worthington Enterprises in the second quarter valued at approximately $57,000. nVerses Capital LLC acquired a new position in Worthington Enterprises in the 3rd quarter worth approximately $83,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Worthington Enterprises during the 3rd quarter worth approximately $85,000. Finally, Eastern Bank purchased a new stake in shares of Worthington Enterprises in the 3rd quarter valued at $121,000. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

Worthington Enterprises Trading Up 1.6 %

Shares of NYSE:WOR traded up $0.67 during mid-day trading on Monday, reaching $41.50. 52,847 shares of the company were exchanged, compared to its average volume of 272,752. Worthington Enterprises, Inc. has a 1 year low of $38.24 and a 1 year high of $69.96. The firm's 50-day simple moving average is $40.52 and its 200 day simple moving average is $45.21. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 53.72 and a beta of 1.26. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.47 and a quick ratio of 2.34.

Worthington Enterprises (NYSE:WOR - Get Free Report) last released its earnings results on Tuesday, September 24th. The industrial products company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.21). The firm had revenue of $257.31 million during the quarter, compared to analyst estimates of $296.05 million. Worthington Enterprises had a net margin of 1.96% and a return on equity of 12.23%. The business's revenue was down 17.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.06 earnings per share.

Worthington Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Friday, December 13th. Worthington Enterprises's dividend payout ratio is currently 89.47%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on WOR shares. StockNews.com upgraded shares of Worthington Enterprises from a "sell" rating to a "hold" rating in a research report on Wednesday, September 25th. Canaccord Genuity Group decreased their price objective on Worthington Enterprises from $52.00 to $46.00 and set a "hold" rating for the company in a report on Thursday, September 26th. Finally, Canaccord Genuity Group reaffirmed a "hold" rating and set a $46.00 target price on shares of Worthington Enterprises in a report on Friday, October 4th.

Insider Activity at Worthington Enterprises

In other news, CFO Joseph B. Hayek purchased 2,500 shares of the stock in a transaction on Friday, October 11th. The stock was bought at an average price of $40.21 per share, for a total transaction of $100,525.00. Following the acquisition, the chief financial officer now directly owns 168,875 shares of the company's stock, valued at approximately $6,790,463.75. The trade was a 1.50 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 37.50% of the stock is currently owned by company insiders.

Worthington Enterprises Company Profile

Worthington Enterprises, Inc operates as an industrial manufacturing company. It operates through three segments: Building Products, Consumer Products, and Sustainable Energy Solutions. The Building Products segment sells refrigerant and LPG cylinders, well water and expansion tanks, fire suppression tanks, chemical tanks, and foam and adhesive tanks for gas producers, and distributors.